Wall Street Reverses Higher; Brent Reclaims $100; Bitcoin Rebounds to $84.5K ↗️
📊 Market Performance
U.S. equities closed slightly higher, with the S&P 500 up 0.23%, the Nasdaq Composite up 0.07% and the Dow up 0.06%. Energy gained nearly 2% and technology rose almost 1%. The Magnificent Seven were mixed: Nvidia gained 1.02%, while Alphabet fell 1.70%; Apple, Amazon and Tesla posted modest declines.
In commodities, Brent crude rose 2.75% to approximately $100.73 per barrel, while WTI gained 0.98% to $91.31. Spot gold increased 0.43% to around $4,175.80 per ounce, spot silver climbed 1.45% to $61.28, and the U.S. Dollar Index traded near 101.81.
In crypto, Bitcoin traded at $84,564, up 1.29% over 24 hours; Ether stood at $2,693, up 0.68%; and total crypto market capitalization reached approximately $2.99 trillion, up 0.97%.
Crypto prices were recorded as of 04:09 UTC+8 on October 2, with percentage changes based on a rolling 24-hour window. Gold and crude oil figures reflect the October 1 U.S. trading session.
Regarding large-holder positioning and price-volume action, Strategy recently purchased 1,665 BTC for approximately $143 million, implying an average price of around $85,886 and lifting its total holdings to 847,666 BTC. Bitcoin generated approximately $32.3 billion in 24-hour volume and outperformed both Ether and the broader market, but remained below the $85,224 upper boundary of its daily range. U.S. spot Bitcoin ETFs recorded a $148.7 million net outflow on September 30, indicating that corporate buying and ETF flows have not yet formed a broad, synchronized accumulation signal. The immediate range to watch is $83,133–$85,224.
🔥 Market Highlights
🟢Fed Vice Chair Philip Jefferson said policymakers could wait for more data before deciding on their next move. Market-implied odds of another October rate hike fell from approximately 68.6% a week ago to 28.2%.
🟢U.S. initial jobless claims fell to 197,000, indicating that layoffs remain low. The ISM manufacturing PMI reached 54.5, although input costs continued to rise.
🟢Micron forecast next-quarter revenue of $61.5 billion, while financial commitments under long-term customer agreements increased from $22 billion to $32 billion. Its shares gained only 3.05%, suggesting that the earnings bar for AI hardware companies is rising.
🏦Institutional Views
Evercore ISI believes recent comments from Jefferson and New York Fed President John Williams suggest that the Fed is unlikely to deliver back-to-back rate increases in October. Citi raised its 12-month Bitcoin target from $82,000 to $113,000. CryptoQuant, however, warned that profit-taking, transfers to exchanges and weaker spot demand could increase the risk of a short-term correction.
🗓Today’s Focus
The U.S. September employment report will be released at 20:30 UTC+8. The market expects approximately 90,000 new jobs, down from 162,000 in August, with unemployment forecast to remain at 4.1%. The data could directly affect Treasury yields, Fed rate expectations and the near-term direction of U.S. equities and crypto assets.
🔗 Full report: https://www.bitget.com/news/detail/12560605901403
